Kenyan Diaspora Returnee-Founded Cytonn InvestmentsBecomes a Public Company
Kenyan diaspora returnee Edwin Dande, who founded $800 million-valued Cytonn Investments, has announced that the firm has now converted to a public company.
The new move means that Cytonn shareholders and joint venture partners will now freely be allowed to transfer shares following its conversion to a public company.
Chief Executive Officer Edwin Dande divulged that the conversion is part of Cytonn’s continued enhancement of corporate governance.
“If you look at the recent significant losses that investors have incurred in situations such as Uchumi, Nakumatt, Kenya Airways, Chase Bank, Imperial Bank and Mumias Sugar, the common theme has been a failure of corporate governance,” said Dande.
He added: “At Cytonn, we shall continue to hold ourselves to the highest levels of corporate governance for the interests of our investors.”
The firm, an investments management firm with offices in Nairobi and DC Metro in the United States, said that its conversion from a private to public company will consequently change its name to Cytonn Investments Management public listed company (Plc).
Cytonn primarily focuses on providing alternative investment solutions to global investor firms, individual high net-worth investors, local investor institutions as well as Diaspora investors keen to venture in the East African region.
Cytonn Investment solutions focus on four main products namely real estate, structured solutions, private equity and advisory.